BWise is the only converged tool that offers both a solution for Sarbanes-Oxley and Basel II
LOSS & INCIDENTS
No matter how well your company is organized, how well your business processes are structured or how efficient the controls are, unplanned incidents can always occur. Fire, water damage and an overheated server space are only a few examples of events that could damage your business processes. An incident may not always be internal, however. Every day your company also deals with external elements. A virus or worm could attack your server; a supplier can lose data; and fraud and theft can occur. Every computer, server, file cabinet and area where critical information is stored, either physical or digital, is vulnerable when an incident occurs. In addition to the financial, operational and reputation damage caused by these incidents, there are also regulators that want related information from you. Laws and regulations, such as Basel II and Solvency II, require registration of incidents, near-incidents and unforeseen surprises both negative and positive.
The registration and analysis of incidents is not only a legal requirement, but also a useful risk management tool. It can help you to gain insight into the structure and control of your business processes. The consequences of individual incidents can be identified, as can shortcomings in controls, process failures and insufficiently managed risks. By registering and learning from incidents, organizations can improve their risk management step by step.
A proper registration of losses & incidents helps every company to become a better company. IN the best tradition of advanced quality management thinking, every thing that goes wrong is an opportunity for improvement. The integrated BWise GRC solution helps you making that statement actionable.
